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By Mark Kleinman, City Editor
The struggling doorstep lender Provident Financial has turned to an executive involved in salvaging value from the wreckage of the nationalised Northern Rock to aid its revival.
Sky News has learnt that Provident, which experienced one of the London market's biggest-ever one-day share price falls when it unveiled a massive profit warning in August, has appointed Rick Hunkin as its first group chief risk officer.
Mr Hunkin, who takes up his new role next week, was most recently in the same position at Williams & Glyn, the unit of Royal Bank of Scotland that had been intended to launch as a standalone lender.
After that plan was aborted, Mr Hunkin and his fellow executives left RBS.
His re-emergence at Provident, which trades under brands including Vanquis Bank and Moneybarn, will provide a fillip to the company as it continues its search for a new chief executive.
Peter Crook, the former boss, stepped down after announcing in the summer that profits would fall by at least £180m this year.
Mr Crook also stepped down from a number of other boards in the wake of his exit from Provident.
The struggling doorstep lender Provident Financial has turned to an executive involved in salvaging value from the wreckage of the nationalised Northern Rock to aid its revival.
Sky News has learnt that Provident, which experienced one of the London market's biggest-ever one-day share price falls when it unveiled a massive profit warning in August, has appointed Rick Hunkin as its first group chief risk officer.
Mr Hunkin, who takes up his new role next week, was most recently in the same position at Williams & Glyn, the unit of Royal Bank of Scotland that had been intended to launch as a standalone lender.
After that plan was aborted, Mr Hunkin and his fellow executives left RBS.
His re-emergence at Provident, which trades under brands including Vanquis Bank and Moneybarn, will provide a fillip to the company as it continues its search for a new chief executive.
Peter Crook, the former boss, stepped down after announcing in the summer that profits would fall by at least £180m this year.
Mr Crook also stepped down from a number of other boards in the wake of his exit from Provident.
